MISSISSAUGA, ON, August 11, 2011 -- Among Albertans planning to move in the next three years, more than half (56 per cent) aren't confident they will be able to completely furnish their new home during the first month and almost half (44 per cent) are unsure what the total costs will be to settle into their new home according to a recent RBC Insurance poll.

"Moving into a new home can be very stressful," said Tim Bzowey, vice-president, home and auto insurance, RBC Insurance. "Creating a moving budget and calculating your expenses ahead of time will not only help reduce stress and lead to a smooth transition, but doing so will also help save money and avoid unexpected expenses."

Almost all of those surveyed (91 per cent) agree that moving costs can result in more stress than unpacking or even getting adjusted to a new neighborhood.

Despite the stress, over three-quarters (80 per cent) of Albertans have expressed their excitement about getting a fresh start. The survey also found that almost three quarters (72 per cent) of women and 60 percent of men would be excited about organizing their new home.

When it comes to new home purchases, Albertans are likely to spend their money on more practical items with the top new home purchases being window coverings (59 per cent), home furniture (53 per cent) and decorating supplies (36 per cent). Luxury items like a pool table (1 per cent) or hot tub (5 per cent) are much lower on their list.

Since the costs associated with moving can add up quickly, RBC Insurance is offering some relief to those Albertans planning to purchase and move into a home or condo in the next five months with the introduction of its Housewarming Offer. The offer, running from July 27 to December 31, 2011, gives one year of home insurance at no cost to all eligible Alberta homebuyers.

"New homeowners manage a lot of extra expenses in their first year," added Bzowey. "A year of home insurance at no cost to the homeowner will provide a much needed break, especially for young couples raising families."

Here are some additional costs that should be considered when purchasing a home:

• Home insurance is often required by your mortgage lender and provides protection against loss or damage of your property and its contents and liability claims.
• Mortgage loan insurance is required if your down payment is less than 20 per cent of the purchase price.
• Appraisal fees may be required if the lending institution requests that your property be appraised.
• Legal fees include reviewing the offer, drawing up the title deed, conducting a title search and preparing and registering the mortgage.
• A property survey may be required to verify the location of the property's boundaries, measurements and structures and any registered or visible easements or encroachments on the property.
• A home inspection could help evaluate any structural and mechanical problems with the property before you purchase.

For information about the Housewarming offer visit: www.rbcinsurance.com/housewarming.

A home is often the largest single purchase Canadians ever make. At RBC Insurance, we can help protect our clients' financial future with affordable coverage that is right for them. From protection for home and personal belongings to coverage against liability, homeowners' insurance protects Canadians in a number of ways. For more information, please visit: www.rbcinsurance.com/advice.

About the survey
These are some of the findings from a recent RBC survey conducted by Ipsos ASI in May 2011. These results are based on 312 online interviews with Albertans aged 30-55 who are looking to buy a new or resale home within the next three years, and have an estimated margin of error of ±5.5 per cent, 19 times out of 20.

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Media Contacts
Margie McNeil, (905) 606-1425, margie.mcneil@rbc.com
Angela Gordon, (905) 816-5650, angela.gordon@rbc.com